Lyndra Therapeutics, a Watertown, MA-based clinical-stage biopharmaceutical company, raised $101M in Series E funding.
The round was led by Sarissa Capital and including Sun Pharmaceutical Industries Limited and Polaris Partners.
The round followed a $20.3M Series D financing led by Polaris Partners that was completed in June 2023.
The company intends to use the funds for the development of its pipeline, including oral weekly risperidone (LYN-005), which is near completion of a pivotal phase 3 study.
Led by CEO Jessica Ballinger, Lyndra Therapeutics is a clinical-stage biopharmaceutical company pioneering long-acting oral therapies. Its LYNX® drug delivery platform specializes in oral drug delivery, creating medicines that last for a week or longer in an oral dosage form. Based on technology invented in the Bob Langer and Gio Traverso Laboratories at MIT, the LYNX platform has progressed rapidly since 2015 through preclinical and early human studies and achieved proof of concept of the platform and lead asset in a Phase 2 study. Lyndra’s initial focus is on developing therapies in psychiatry, cardiometabolic diseases and other conditions where current approaches to treatment fail to meet patients’ needs and expectations. Its lead product candidate, oral weekly risperidone (LYN-005), is being developed for the treatment of people living with schizophrenia and bipolar 1 disorder.
Since the founding, the company has received product funding from the Bill & Melinda Gates Foundation, the NIH, AbbVie, and Gilead Sciences, Inc.
Lyndra Therapeutics, a Watertown, MA-based clinical-stage biopharmaceutical company, raised $101M in Series E funding. Best wishes to everyone in the group. This will be a huge accomplishment for them in the future.
Shishir Gupta, The Founder & CEO of StartupLanes
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